Client Executive Insurance Solutions

Northern Trust • Chicago, IL

7d

About The Position

The Client Executive within Northern Trust’s Insurance Solutions Group manages and cultivates a portfolio of existing and high-potential insurance clients. The role is ultimately responsible for retaining and growing the assigned portfolio across Northern Trust, establishing a presence in the insurance marketplace, and participating in defined prospecting. The Client Executive provides advice-driven, client-specific solutions to strengthen relationships and identify additional opportunities.

The role manages complex master trust, custody, and asset servicing clients and evaluates, designs, implements, and oversees each client’s total relationship plan. This includes worldwide custody and asset servicing, investments, banking, credit, insurance investment accounting, treasury management, and introductions to Wealth Management where appropriate. The Client Executive identifies client needs, develops opportunities, brings in subject-matter experts, supports sales, and ensures smooth delivery of new services.

The position maintains ongoing dialogue with clients and their advisors, advises them on financial and industry developments and Northern Trust products and services, and manages client profitability. It coordinates relationship reviews and strategic plans, involves senior management in reporting service activities and issues, provides management with reports on profitability and service gaps, and contributes to team performance and new-business efforts.

Requirements

• At least 10 years of experience in relationship management, new business development, and client servicing.
• Significant exposure to banking, asset servicing, and investments for insurance companies.
• General knowledge of trust and asset servicing products, investments, and insurance-segment issues, including insurance company asset pools, insurance investment accounting, and unique reporting or structure requirements.
• Broad knowledge of Northern Trust and industry issues, with a strong understanding of insurance clients, prospects, and competitors.
• Demonstrated interpersonal, negotiation, delegation, and sales skills.
• Leadership and organizational skills to determine client needs and assess required resources.
• Applicants must be authorized to work in the United States without current or future employment-based visa sponsorship.

Responsibilities

• Manage complex master trust, custody, and asset servicing client relationships.
• Evaluate, design, implement, and oversee clients’ total relationship plans.
• Take ultimate responsibility for the client relationship, including worldwide custody and asset servicing, investments, banking, credit, insurance investment accounting, treasury management, and appropriate Wealth Management introductions.
• Review client relationships to identify banking, asset servicing, and investment needs and anticipate opportunities to enhance them.
• Build client relationships, develop solutions to client needs, involve experts when appropriate, and close sales.
• Ensure smooth delivery of new services and communicate emerging client needs.
• Maintain regular, ongoing dialogue with clients and their advisors.
• Counsel clients on financial and industry issues, bank products and services, and the general environment, including implications for clients and bank services.
• Manage client profitability, understand the competitive environment, develop pricing strategies, and work with the team to enhance profitability.
• Coordinate or lead firm-wide relationship reviews, develop client-specific strategic relationship plans, and assess progress against plan goals.
• Involve senior management in reporting client servicing activities and issues; provide management with reports on client profitability, contribution, and servicing gaps; escalate issues appropriately.
• Provide input on team members’ performance and contributions to team results.
• Participate in new-business efforts and defined prospecting with insurance companies.

Benefits

• Retirement benefits, including a 401(k) and pension.
• Health and welfare benefits, including medical, dental, vision, spending accounts, and disability coverage.
• Paid time off.
• Parental and caregiver leave.
• Life and accident insurance.
• Voluntary and well-being benefits.
• Discretionary bonus program that may include an equity component.
• Flexible and collaborative work culture.
• Movement within the organization is encouraged and senior leaders are accessible.
• Inclusive workplace and community assistance opportunities.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: No Education Listed